Navigation Links
KitoTech Medical Announces Completion of $3M Convertible Note Financing
Date:9/1/2020

KitoTech Medical, a Seattle-based medical device company, announced today that it has completed $3 million convertible note financing, which will be used to accelerate the commercialization of its microMend® family of wound closure products.

With the funds from this financing, the company will continue to expand its customer base of healthcare systems as well as independent hospitals and clinics. In addition, KitoTech will use the proceeds to support the entry of microMend into new markets, including surgical specialties, orthopedics, obstetrics and gynecology. The company will also be supporting commercial efforts behind its consumer products, which have shown remarkable sales growth since their market introduction in May 2020.

“KitoTech has made excellent progress over the past year in bringing its microMend products to market. It has been adopted by some of the leading healthcare networks in the country. Physicians have been impressed with the product and hospitals and clinics are pleased with the cost savings using microMend compared to other wound closure products,” says Dr. Ronald Berenson, President and CEO of KitoTech Medical. “With this financing, we look forward to providing microMend products to an increasing number of healthcare providers and facilities. We will also take the opportunity to use some of the funding to expand our line of consumer products and to move into new retail market channels.”

About microMend®

microMend consists of an array of miniature stainless steel staples (Microstaples) attached to an adhesive backing that combines the holding strength of a suture with the simplicity of applying a bandage. It is designed to provide medical personnel with a cost-effective, time saving and easy-to-use option for closing lacerations, skin tears, surgical incisions, and other wounds. microMend’s consumer products make it possible for people to close lacerations at home, in the outdoors or elsewhere without the inconvenience and costs associated with ER and Urgent Care Clinic visits.

About KitoTech Medical

KitoTech Medical is a medical device company spun out of the University of Washington that is using its patented Microstaples Technology platform to develop and commercialize products for wound closure and wound care. Additional product and company information can be found online at http://www.micromendskinclosure.com.

Read the full story at https://www.prweb.com/releases/kitotech_medical_announces_completion_of_3m_convertible_note_financing/prweb17360613.htm.


'/>"/>
Source: PRWeb
Copyright©2020 Vocus, Inc.
All rights reserved


Related medicine news :

1. Get Legal Portland Medical Marijuana from The Aurora Clinic
2. Portland Medical Marijuana Clinic Launches Blog
3. KidsCareEverywhere Brings the Latest Medical Information to Developing Countries
4. Victory Medical Center Beaumont Celebrates 1000th Surgery
5. New Medical Office Building to Provide Care Closer to Home
6. Potential for added medical benefits uncovered for widely used breast cancer drug
7. Medical Tourism Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
8. Transvaginal Mesh Lawsuit News: Bernstein Liebhard LLP Notes Issuance of New Orders in Federal Litigations for Ethicon, American Medical Systems Lawsuits
9. Ozarks Medical Center Retains B. E. Smith to Recruit New CEO
10. Medical Disposables Market (Drug Delivery, Wound Management Products, Non-Woven Medical Disposables) – Global & US Industry Analysis and Trends To 2018
11. Victory Medical Center Houston Named Top Workplace
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/3/2020)... CHICAGO (PRWEB) , ... September 03, 2020 , ... ... Medical Spa Show 2021 will be held Wednesday, April 7, to Saturday, April ... late January. , Medical Spa Show is a national trade show for non-invasive ...
(Date:9/1/2020)... ... September 01, 2020 , ... KitoTech ... million convertible note financing, which will be used to accelerate the commercialization of ... this financing, the company will continue to expand its customer base of healthcare ...
(Date:8/31/2020)... ... August 31, 2020 , ... The Lymphoma Research ... innovative lymphoma research and serving the lymphoma community through a comprehensive series of ... of Blood Cancer Awareness Month (BCAM) and its international Light it Red ...
(Date:8/31/2020)... ... August 31, 2020 , ... Colorado State University Global (CSU ... affordable online education – is proud to announce its new master’s degree in ... its kind in the nation, the 60-credit hour program is designed to provide ...
(Date:8/31/2020)... ... August 31, 2020 , ... Dr. Chang has ... with autism and other developmental disabilities, as well as supporting staff in caring ... with autism, school consultation, and staff development. She joined the company in 2015 ...
Breaking Medicine News(10 mins):
(Date:9/1/2020)... ... September 01, 2020 , ... While coronavirus cases continue to increase across ... and community organizations remain closed. Because about 80% of blood donations are made at ... blood donors and blood drive hosts to ensure blood products are readily available for ...
(Date:8/31/2020)... ... 31, 2020 , ... Continuing on its rapid national expansion ... and deodorization provider - is proud to announce it has opened doors in ... and residents throughout the area. , Germinator provides a 100% safe and non-toxic ...
(Date:8/27/2020)... , ... August 27, 2020 , ... ... software, today announced the successful completion of their 2020 System and Organizational Controls ... their HITRUST® interim assessment and MARS-E compliance assessment. These achievements reflect their long-standing ...
Breaking Medicine Technology: